I.T.O. Ward-7(2), Ahmedabad v. Kiran J. Thakor
[Citation -2016-LL-1003-35]
| Citation | 2016-LL-1003-35 |
|---|---|
| Appellant Name | I.T.O. Ward-7(2), Ahmedabad |
| Respondent Name | Kiran J. Thakor |
| Court | ITAT-Ahmedabad |
| Relevant Act | Income-tax |
| Date of Order | 03/10/2016 |
| Assessment Year | 2009-10 |
| Judgment | View Judgment |
| Keyword Tags | unexplained cash • monetary limit |
| Bot Summary: | This appeal by the Revenue is directed against the order of the Ld. CIT(A)- XXI, Ahmedabad dated 20.01.2014 pertaining to A.Y. 2009-10. Firstly, the Revenue is aggrieved by the deletion of the penalty u/s 271(1)(c) in respect of addition of Rs. 2,10,643/- on account of unexplained cash credits. Secondly, the Revenue is further aggrieved in partly deleting the penalty u/s 271(1)(c) in respect of addition of Rs. 11,58,651/- on account of unexplained cash credits. In our considered opinion, this appeal by the Revenue has to be dismissed in the light of the CBDT Circular No. 21 of 2015 dated 10.12.2015 by which the CBDT has prescribed the monetary limit for filing the appeal before the Tribunal at Rs. 10 lacs and above. In the light of the aforementioned Circular, this appeal of the Revenue is dismissed. The Revenue is at liberty to come before the Tribunal if it feels that this appeal is not hit by the aforementioned CBDT Circular as per the provisions of the law. In the result, the appeal filed by the Revenue is dismissed. |